US crude prices climb again as China loosens COVID restrictions

  • November 29, 2022

China Covid Protests Updates: Biden Recently Spoke With Xi Jinping About Covid

 

China’s policies over COVID-19 sent U.S. crude oil prices up again in Tuesday’s trading. A loosening of the country’s strict controls as well as weakness in the U.S. dollar were behind the rising level of trading.

West Texas Intermediate crude for January delivery rose 96 cents or 1.2% to finish the day at $78.20 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude went the other direction, falling 16 cents or 0.2%, settling at $83.03 on ICE Futures Europe.

January natural gas rose 4 cents to $7.24 per 1,000 cubic feet.

Oklahoma energy stocks saw a rebound in prices Tuesday with Mammoth Energy performing with a nearly 8% gain. Helmerich & Payne went up 4%.

Alliance Resource Partners, L.P.
23.20 USD+1.00 (4.50%)
Chesapeake Energy Ord Shs
99.30 USD+1.06 (1.08%)
Coterra Energy Inc
28.07 USD+0.92 (3.39%)
Devon Energy Corp
67.50 USD+0.95 (1.43%)
Empire Petroleum Corp
13.44 USD+0.090 (0.67%)
Gulfport Energy Corp
79.55 USD+0.79 (1.00%)
Helmerich & Payne, Inc.
50.37 USD+1.72 (3.54%)
LSB Industries Inc
14.85 USD+0.26 (1.78%)
Laredo Petroleum Inc
62.25 USD+1.11 (1.82%)
Magellan Midstream Partners LP
52.72 USD+1.11 (2.15%)
Mammoth Energy Services Inc
5.99 USD+0.43 (7.73%)
Matrix Service Co
5.02 USD−0.020 (0.40%)
NGL Energy Partners LP
1.21 USD−0.025 (2.02%)
OGE Energy Corp.
39.70 USD−0.035 (0.088%)
ONE Gas Inc
85.15 USD−1.40 (1.62%)
ONEOK, Inc.
64.91 USD+1.17 (1.84%)
Ovintiv Inc
54.22 USD+0.35 (0.65%)
PHX Minerals Inc
3.64 USD+0.020 (0.55%)
SandRidge Energy Inc
20.19 USD+0.49 (2.49%)
Unit Corp
56.50 USD+0.99 (1.78%)
Williams Companies Inc
34.32 USD+0.84 (2.51%)
Oil falls over $2 a barrel as China's COVID protests fuel demand fears
 Other energy stocks had positive performances on Tuesday according to the Texas Energy Report.

Apache (APA) up 1.63 at 46.59 – change 3.62%

Cheniere (LNG) up 2.22 at 172.65 – change 1.30%

Chevron (CVX) up 2.67 at 181.03 – change 1.49%

ConocoPhillips (COP) up 0.41 at 124.25 – change 0.33%

Diamondback Energy (FANG) up 3.01 at 146.74 – change 2.09%

Energy Transfer LP (ET) up 0.26 at 12.41 – change 2.13%

Enterprise Products Partners (EPD) up 0.28 at 24.73 – change 1.14%

EOG Resources (EOG) up 4.63 at 141.29 – change 3.39%

ExxonMobil (XOM) up 0.73 at 110.54 – change 0.66%

Kinder Morgan (KMI) up 0.42 at 18.88 – change 2.27%

Marathon Oil Corp. (MRO) up 0.54 at 30.35 – change 1.81%

National Oilwell Varco (NOV) up 0.36 at 22.14 – change 1.65%

Occidental Petroleum (OXY) up 0.88 at 69.11 – change 1.28%

Phillips 66 (PSX) up 1.14 at 108.97 – change 1.06%

Pioneer Natural Resources (PXD) up 1.28 at 240.78 – change 0.53%

Tellurian Inc. (TELL) up 0.08 at 2.60 – change 3.17%

Valero (VLO) up 0.36 at 135.19 – change 0.26%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.57 at 94.65 – change 0.60%

CenterPoint (CNP) down 0.29 at 30.58 – change 0.91%

Entergy (ETR) down 0.44 at 112.81 – change 0.39%

Jerry Bohnen